Brexit: Gibraltar

Baroness Butler-Sloss Excerpts

Tuesday 21st March 2017 Lords Chamber

[Baroness Butler-Sloss (CB)]

My Lords, it is always a great pleasure to follow the noble Lord, Lord West of Spithead, who, I notice, has been engaged in something of a marathon with this, his second speech this evening.

I first went to Gibraltar in 1949 as a teenager with my father, and I have been going there ever since. I very much admired the report produced by the committee chaired by the noble Lord, Lord Boswell, as well as his very valuable speech at the beginning of this useful debate. I am a vice-chairman of the Anglo-Gibraltar parliamentary group, of which I am proud to be a member.

Gibraltar, as we all know, has a special position as part of the European Union—but, as we also know, is set to leave. It is staunchly British in its support of the United Kingdom and is a thriving centre of excellence, despite Spain’s constant interference and incursions, which the noble Baroness, Lady Harris, mentioned. It is abundantly clear that during the Brexit negotiations and post Brexit we must publicly and effectively support Gibraltar in all the situations that may arise in which that will be necessary, including continuing threats from Spain. The Government have, I am glad to say, promised again and again to do so, and they must carry out their promise. That is something that others have said, and I just follow.

I would also like to speak briefly about something completely different—the Criminal Finances Bill, which I think has its Committee stage next week. Gibraltar, which is potentially affected by it, is happy with the intentions of the Bill, but is understandably concerned about possible amendments. Some were tabled in the Commons, but fortunately they were unsuccessful.

Gibraltar has a commitment to transparency in the financial services sector, and is used as an example for other jurisdictions. It is committed to the central register of beneficial ownership under the EU anti-money laundering directive; it works closely with the United Kingdom Government on financial issues; it has an excellent record on the exchange of information, recognised by the OECD; and it has the same rating on that as the United Kingdom. I am sure that we in this House all hope that Gibraltar will remain a strong financial centre, whatever may happen in the future.

I must therefore tell Members of this House that it is very important that inappropriate amendments, which are being suggested by some Members, should not be allowed to have any adverse implications for Gibraltar. This measure must not be allowed to be to the detriment of Gibraltar. I therefore ask your Lordships to watch what any amendments tabled to the Criminal Finances Bill actually say. We must be sure that they are not passed—because if they are, there will be an opportunity for Spain to denigrate Gibraltar’s financial services, which would obviously be to the detriment of Gibraltar. We must not allow Spain that opportunity.